American Tower Corp (AMT) is slightly overvalued and Equinix Inc (EQIX) is overvalued.
Both trade above our estimate of their intrinsic value. AMT is the closer of the two: -16%, against -129% for EQIX.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.7% (average of 3 methods) values the shares at $151.19; the price of $175.25 is 16% above that value, and 77% of that value comes from beyond year five.
Leak Score 45/100 on 9 of 12 signals
Discounting its cash flows at 9.9% (average of 2 methods) values the shares at $463.18; the price of $1059.26 is 129% above that value.
Leak Score 45/100 on 9 of 12 signals
| Metric | AMT | EQIX |
|---|---|---|
| Verdict | Slightly overvalued | Overvalued |
| Price | $175.25 | $1059.26 |
| Intrinsic value | $151.19 | $463.18 |
| Margin of safety | -16% | -129% |
| Leak Score | 45/100 (9/12) | 45/100 (9/12) |
| Market cap | $81.7B | $104.5B |
| Revenue growth, 5 years | 5.8% | 9.0% |
| Operating margin | 45.2% | 9.2% |
| Net margin | 31.1% | 15.6% |
| Return on equity | 91.5% | 10.8% |
| Debt to equity | 12.09 | 1.62 |
| P/E | 24.1x | 68.2x |
| Forward P/E | 24.9x | 56.2x |
| P/B | 21.9x | 7.3x |
| Dividend yield | 4.1% | 1.9% |